Softline 1H21 IFRS Results: M&As, IT Services, EBITDA Boost
smartmoney.oneStrong sales growth and profitability improvement Softline’s turnover increased by 26% YoY to $976mn in 1H21, reflecting Emerging Markets (EMs) Digitalization boom and active M&As policy.Revenues surged by 34% YoY to $868mn, while adjusted EBITDA skyrocketed even higher by 51% YoY to $28mn, assuming EBITDA margin increase by 0.8 ppt to 21,6%.Interestingly, in 2Q21 adjusted EBITDA was up by 72% YoY vs 2Q20 to $15.1mnServices boosted by 65% YoY (vs 26% YoY total turnover increase), reflecting the company’s strategic focus and acquisitions made.An increase in the share of services naturally supports profitability.
To illustrate, IT services amounted to 4% in the turnover mix and 26% in the gross profit mix in 2020. Softline increased its.